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I recently visited my friend Bert Hannah’s new candle factory in Fayetteville. He was kind enough to read a draft of my new book, Confessions of an Entrepreneur, and write his testimony against it, and I wanted to give him a signed copy of the book when it was printed.
So I parked my car in the parking lot. Hannah’s Candle Company A factory and office on South School Avenue — a converted building that previously belonged to the commercial printer Standard Register Co. — and a new warehouse built next door by Hannah. Who’s working the lawn in the dirt and sweat in the yard? None other than Bert Hannah himself. I asked him what he was doing there. He said he was showing his son what hard work looks like.
Hannah is the man who owns a company with over $80 million in revenue last year. Walking through his factory, Hannah talks to everyone. He knows how everything works and can explain every process. My point is, Bert Hannah is in his business. He is actively involved in all aspects of it, from winning multi-million dollar contracts from retailers to fixing machines that break down that day.
As a Bistage Chair in Northwest Arkansas, I’m on a listserv with other Bistage Chairs across the country. A few weeks ago, a fellow chairman mentioned his three small business owners in the area, with revenues of about $3 million. This is the Bistage mantra I often hear from business coaches and professionals.
What is my reaction to this statement? Better do both. One of the most significant causes of small business failure that I’ve observed in my (very) long career is owners not working in their own businesses. They think they can do it from a distance or with a hired manager. Or you think your time is too precious to be bogged down with the mundane tasks of what your business does for its clients and customers. The $3 million dollar company has three owners and he hopes they are working in the business. it’s crazy.
Only by working in business can you understand what your business is doing well and what you are not very good at. Also learn who is good at your business and who is not. . Get first-hand experience of the challenges employees face every day. And you can build better relationships with your employees. They see you as one of their him. In other words, they will see you as a contributor rather than an overhead that sucks everything out of the company and puts nothing into it.
Anyone who thinks they can get away from the day-to-day business and become a CEO focused on the ‘big picture’ and ‘strategy’ must be in a lot of trouble.
Mark Zweig is the founder of two Inc. 500/5000 companies based in Fayetteville. He is also an entrepreneur who teaches entrepreneurship at the Sam M. Walton College of Business at the University of Arkansas. Northwestern Arkansas chapter of Vistage International. Opinions expressed are those of the author.
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